## ## |Forthe Year Ended 31'M|arch 2023||| |---|---|---|---| |Contents Page|||| |Reference and administrative|information||| |Trustees' annual report|||| |Independent
auditors' report
Statement ofF~Activities|||13| |(incorporating
an income and|expenditure|account)|| ||||18| |Statement ofcash flows
Notes tothe~statements|||19
20| ## ## |||EricSorensen (Chair|ofthe Trust)| |---|---|---|---| |||Katherine Sarah
hzabeth Carter|| |||Sandra Emkine|| |||James Andrew John|Kenworth| |||Stephen Wi1liam Nicholas|| |||Belinda Joanne Vecchio|| |||Amanda Williams|| |Company|ecretary:||| |Company|number|03032232|| |Charity number||1045057|| |Registered|Office|Trmity Buoy Wharf|| |||64Orchard Place|| |||London E14OJW|| |Auditors:||Goldwins Limited|| |||75Maygrove Road|| |||West Hampstead|| |||London NW6 2EG|| |||National Westminster|Bank pic.| |||Beckton Branch|| |||P.O.Box3238|| |||Frobisher Road|| |||London E64GY|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |REQUIREMENT||||| |---|---|---|---|---| |Operational
—5year horizon||||| |Potential operating loss atcurrent "core" level||||1,144| |Allowance foradditional
development
activities||||50| |Investment||||| |Continued
investment ofLDDCEndowmenls|in|rusl|terms"|6AS7| |Meeting Commibnents||||| |Meeting obligations under former Legacy Atpuements|||and others that have been agreed since|1372| |Match Funding||||| |Toenable the Trust toseek additional
funding
Risk
Topmvide a"co~'against business risks~wah tts obligations(~at
10%ofthe ou siandtng commitment)
TOTAL REQUIREMENT||||300
132
.'9~| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||2023|2023|2023|2022| |---|---|---|---|---|---|---| ||||Unrestricted|Restricted|Total|Total| |||Note|funds
6|funds
6|funds|fundsf| |Income from:||||||| |Investment
income||3|273,190||273,190|261,884| |Total income|||||273,190|261,884| |Expenditure
on:||||||| |Raising funds|||55,034|||59,414| |Charitable
acbviiies:||||||| |Grants programme|||288,865||288,865|255,801| |Special projeds|||86,360||86,360|29,304| |Total expenditure|||||430,259|344,519| |Net (expenditure)
before net gains I||||||| |(losses) on investmenls|||(157,069)||(157,069)|(82,635)| |Net gains IOosses) on inveslments||8|(21~)|(435,302)|(648,711)|428,807| |Net income I(expenditure)|forthe year|5|(370878)|(435W2)|(805,780)|346,172| |Transfers between funds||||||| |Net movement
in funds|||(370,478)|(435,302)|(805,760)|346,172| |Reconciliation offunds:||||||| |Total funds brought forward|||3.628,426|6,922,322|10,550,750|10,204,576| |Total funds canied foneard||11|3,257,950|6487,020|9,744,970|10,550,750| ## ## ## ## ||||Nate|2023
8|2023
f|2022
F|2022
6| |---|---|---|---|---|---|---|---| |Net cash pnwided
byI (used in) opmating||activities|12||(517,017)||(236,132)| |Cash flows fmm invesdng
acgviTies:|||||||| |Interest/
rentl dividends
from inveslments||||273,190||261,884|| |Salel (purchase) ofinvestments||||(584,394)||492,779|| |Cash provided
byI (used in) imresting|activities||||(311,204)||754,663| |Change
in cash and cash equivalents|in the year||||(828,221)||518,531| |Cash and cash equivalerds stthe beginning||ofthe year|||1,016,517||497,986| |Cash and cash equivalents
atthe end|ofthe year||13||188,296||1,016,517| ## ## ## ## ## |2|~iled comparafives|~iled comparafives|~iled comparafives|for the rdatemmd|offinancial acfivities|||| |---|---|---|---|---|---|---|---|---| |||||||2022|2022|2022| |||||||Unreskclsd|Restricted|Total| |||||||funds|funds|funds| ||||||||6|E| ||Income from:|||||||| ||Charitable
ackvities:|||||||| ||Investments|||||261,884||| ||Total income|||||||261,884| ||Expenditure
on:
Management
fees|||||59,414||59,414| ||Chantable
activities:|||||||| ||Grants Programme
Special projeds|||||255,801||255,801
29,304| ||Total expenditure|||||344,51$||344,519| ||Net (expenditure)
Irlveskrlerds|before gains I(losses)|||on|(82,635)||(82,635)| ||Net gains on invesknents
Net income iexpenditum|||||174,363
91,728|254,444
254~|428,807
346,172| ||Transfers between|funds||||||| ||Net movement
in|funds||||91,728|254,444|346,172| ||Total funds brought
Total funds carried||forward
forward|||3,536,700
3,62&,428|6,667,878
6,$22,322|10,204,578
10,550,750| |3|Income from invesbnenls|||||||| |||||||||2022| ||||||Unresktctsd|Reslrided|Total|Total| ||||||F|E||5| ||Bank interest||||3,044||3,044|| ||Investment
income||||270,146||270,146|| ||||||273,190||273,190|261,884| |the year end|ed 3|1stINarch 2|023||||||| |---|---|---|---|---|---|---|---|---|---| |||||Char8abfe|adkriges||||| |||Basis of|Cost ofraising|Granls|Spedal||||| |||alocalion|funds
E|Programme
E|prn)eels
f|||2023
f|2022
E| |Grants awanled||Dinxt|||75,000|12,876||338,743|255,189| |Management|hms|Dimd|47,795|||||47,7%i|50,688| |Governance|costs||||||37,495|37r495|33,626| |Olher costs||||||6225||6,226|5,016| ||||47,795|250,867|75,000|19,102|37,495|430,259|344,519| |Support costs||||12.825||(19,102)|||| |Governance|costs||4,796|25,173|||(37,495)||| |Toial expenditum||2023|55.034|288,865|86460||||| |Total expendihne||2022|59,414|255,801|29,304||||344,519| ## ## ## |2023
F|2022f| |---|---| |4,000|3,800| |Investments||| |---|---|---| |||2022| |Investments
atfair value:||| |UK &Overseas Fixed Interest|1,914,072|1,475,517| |Equities
Property and Infrastructure
Cash instruments|5,874,814
1,386,151
398,288|6,395,946
1,465,365
300,814| ||9,573,325|9,637,642| |Movements||| |Market value at the start ofthe year|9637642|9701614| |AddITIons at cost|2,318,547|1,432,496| |Disposals at carrying value
Net gains I(krsses) on investments
Market value at the end ofthe year|(1,734,153)
648,711
9,573,325|(1,925,275)
428,807
9,637,642| ## |Fo|rthe year|ended 3|ended 3|1stMarch 2023|1stMarch 2023||||| |---|---|---|---|---|---|---|---|---|---| |9|Creditors:|amounts||falling due within one year|||||| ||||||||||2022| ||||||||||5| ||Other creditors||||||||71,714| ||Accruals|||||||16,653|31,697| |||||||||16,653|103/11| |10|Analysis ofnet assets between funds||||||||| |||||||General|||Total| |||||||unrestncted|Designated|Restricted|funds| ||||||||5|F|6| ||Tangible fixed assets|||||2|||2| ||Investments|||||1,788,919|1,297,386|6,487,020|9,573,325| ||Net current
Net assels|assets
atthe|end ofthe year|||171,643
1,960~|1,297,386|6,487,020|171,643
9,744,970| |11|Movements|in funds|||||||| ||||||At the start|Income &|Expenditure||Atthe end| ||||||ofthe year|gains|&losses|Transfers|ofthe year| ||||||F|r|r.|L|5| ||Restricted|funds:|||||||| ||Endowment||||6,922,322||(435,302)||6,487,020| ||T~l restriclad funds||||6,922,322||(435,302)||6~,020| ||Unresbtcted|funds:|||||||| ||Designated|funds:|||||||| ||Previous Legacy Funds||||1,372,386||(75,000)||1,297,386| ||Total designated
funds||||1,372,386||5,000||1,297,386| ||General funds||||2,256,042|273,190|(568,668)||1,960,564| ||Total unrestricted||funds||3,628,428|273,190|(643,668)||3,257,950| ||Totalfunds||||10,550,750|273,190|(1,078,970)||9,744,970| ## ## |For|the year ended 31st March 2023|||| |---|---|---|---|---| |12|Reconciliation ofnet income I(expenditure)|to net cash flow fiom operating|activities|| ||||2023|2022| ||||F|| ||Net income I(expenditure)
forthe reporting|period|(805,780)|346,172| ||(as per the statement offinancial activities}
Interest,
rent and dividends
from investments||(273,190)|(261,884)| ||(Gains)l krsses on investments||648,711|(428,807)| ||Increasel (decrease) in creditors
(Increase)l decrease
in debtors||(86,758)|47,839| ||Net cash provided
by I(used in) operabng|activities|(517,017)|(236,132)| |13|Analysis ofcash and cash equivalents|At 1stApril||Other|At31st| |---|---|---|---|---|---| |||2022|Cash flaws|changes|Mamh 2023| |||F||F|| ||Cash at bank and in hand|1,016,517|(828,221)||188,296| ||Total cash and cash equivalents|1,016,517|(828,221)||188,296| ## ## ## ## ## |Analysis|ofex|penditum|ofprevious|reporting
p|eriod|||| |---|---|---|---|---|---|---|---|---| ||||Cost of|Charitable|acthdges|||| ||||ISISIng
funds
2||Special
pmiects|Support
costs
f||2021
0| |Grants awarded||Direct||218,231||11,958||255,109| |Management
Govenarsn|fees
coals|Direct||||||50,6S5
33,626| |Other costs||||||5,016||5,016| |||||218,231|25,000|16.974|33,626|344,519| ||||2,927|12,603|1,444|(16,974)||| |Governance|costs|||24,967||||| |Trrial expenditure||2022|59~13|||||344,519| ## |Analysis o|fnet assets between fu|nds ofprevio|us
reporting|period||| |---|---|---|---|---|---|---| |||General|||Total|| |||unrestricted|Designated
f|Reshicted|funds
K|| |Tangible fixed assets||2|||2|| |Investments||1,342,934|1,372,386|6,922,322|9,637,642|| |Net current|assets|913,106|||913,106|| |Net assets|atthe end ofthe year|2,256,042|1,372,386|6,922,322|10,550,750|| |Movements|in funds forthe previous reporting||period|||| |||At the start|Income &|Expenditure||Atthe end| |||ofthe year
f|gains
f|6losses
F|Transfers
F|ofthe year| |Restricted|funds:|||||| |Endowment||6,667,878|254,444|||6,922,322| |Total nmtricted
funds||6,667,878|254r444|||6,922,322| |Unrestricted|funds:|||||| |Designated|funds:|||||| |Previous Legacy Funds||1,397,386||(25,000)||1,372,386| |Total designated
funds||1,397,386||25,000||1,372,386| |Generalfunds||2,139,314|436,247|(319,519)||2,256,042| |Total unrestrictedfunds||3,536,700|436,247|(344,519)||3,628,428| |T~lfunds||10,204,578|690,691|344,519||10,550,750|